Once again, sale of the Phoenix Coyotes is in jeopardy. Worse, potential buyer Matthew Hulsizer might have more lucrative options, the Phoenix Business Journal reported Tuesday.

Several more historically successful franchises in larger markets are for sale, including the Dallas Stars, and investors are being sought for still other franchises.

Kyle Turris and the Coyotes find themselves fighting for the playoffs with the Dallas Stars -- while both teams face ownership questions. (AP Photo)

This, while the NHL's sale of the Coyotes to Hulsizer drags more than two months after the league selected him as its white knight for the franchise it bought out of bankruptcy.

The holdup involves the city of Glendale, Ariz., the Phoenix suburb where the team plays and which owns Jobing.Com Arena, the Coyotes' home venue.

A few weeks ago, completion of the deal to Hulsizer, a Chicago financier, seemed close. However, sources told the Phoenix Business Journal the deal could collapse. Part of the problem? An Arizona organization's threat to pursue a court challenge regarding bonds Glendale plans to issue as part of the deal.

Hulsizer has said he wants the Goldwater Institute, a conservative watchdog group, to withdraw its plan to sue. If the institute continues with its plan, Hulsizer would be left with a deal under a cloud of uncertainty over future costs.

As the Phoenix Business Journal reported, the potential suit could not only drive up the cost of the bond package but also could scare away investors.

Over the weekend, Hulzizer told Fox Sports Arizona the institute's threat could add as much as $100 million to Glendale's interest payments over 30 years, according to the Phoenix Business Journal. However, he also said he was prepared to close on the sale.

The Coyotes are owned by the NHL, which purchased the team out of bankruptcy in 2009. The league earlier balked at a potential $252.4 million sale by the previous owner to Jim Balsillie, a Canadian investor who would have moved the team to Hamilton, Ont.

The league also announced it would seek an owner that would keep the team in the Phoenix market unless none was found before Jan. 1, 2011. Hulsizer stepped into the breach, but his package has now hit a snag with the Glendale bonds and potential league challenge.

There is no immediate mention of Hulsizer being interested in other franchises. However, sale of the Stars remains in a flux, with oil executive Doug Miller reportedly the latest suitor for that franchise.

The threat of departure from the Phoenix market continues, with a movement emerging in Quebec City for a new venue to attract a team. That city lost the Quebec Nordiques in 1995, when they moved to Denver and became the Colorado Avalanche.

The Coyotes also have been mentioned in a possible sale and move back to Winnipeg. The franchise left Manitoba in after the 1995-96 NHL season.